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People's Choice Credit Union Personal Loans

People’s Choice Credit Union is one of Australia’s largest credit unions and has provided financial assistance to customers since 1949.

People’s Choice Credit Union has over 1,000 employees serving more than 350,000 members around Australia, and 40 branches to visit (mostly located in South Australia).

Members have access to banking products such as personal loans, savings accounts, everyday banking, credit cards, home loans, term deposits and financial planning services.

People's Choice Credit Union personal loan repayment calculator

Thinking about taking out a personal loan with People's Choice Credit Union? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how People's Choice Credit Union personal loan compare with various products.

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People's Choice Credit Union Personal Loans rates

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Features of a People’s Choice Credit Union personal loan

There are a few options to choose from at People’s Choice Credit Union, including secured and unsecured personal loans. All loans come with fixed interest rates, but some revert to a variable rate after an introductory period.

Personal loan interest rates from People’s Choice range from moderately low to moderately high. Compare personal loan rates using RateCity to find the best personal loan rates on the market for your needs.

People’s Choice Credit Union does not have ongoing fees or early exit penalty fees for its loans. However, its upfront fees are higher than what borrowers are likely to find at the major banks.

Additionally, there is a redraw facility for those who intend to borrow back more money after paying it off.

People’s Choice Credit Union personal loans - customer service

People’s Choice Credit Union has over 40 branches for its members to visit. However, its branches are located only in South Australia, Victoria, Northern Territory and Western Australia.

Those not living near a branch can bank with People’s Choice Credit Union online or by phone.

Who is eligible for a People’s Choice Credit Union personal loan?

To apply for a People’s Choice Credit Union personal loan, you will need to provide the following:

  • Details of income
  • Info about expenses
  • Asset information
  • Details of residency and employment
  • Australian driver’s licence or photo ID

How to apply for a People’s Choice Credit Union personal loan

People’s Choice Credit Union accepts the following methods of application for personal loans:

  • Online applications
  • In-branch applications
  • Phone applications

People’s Choice Credit Union personal loans review

There are a few personal lending options available from People’s Choice Credit Union, including secured and unsecured loans. All loans come with fixed interest rates, which may appeal to some borrowers, but keep in mind that some loans revert to a variable rate after an introductory period.

People’s Choice Credit Union personal loan rates vary from moderately low to moderately high depending on the type of loan chosen. Customers looking to reduce the risk of unnecessary debt may find these interest rates appealing. However, personal loans with lower interest rates could be available elsewhere in the market.

There is a higher-than-average upfront fee charged for People’s Choice Credit Union personal loans. However, there are no ongoing fees and no penalty fees for customers who wish to pay offer their loans early – which may help to reduce costs.

FAQs

The worse your credit history, the harder you will find it to consolidate your debts, because lenders will be less willing to lend you money and will charge you higher interest rates.

However, people with bad credit histories can make debt consolidation work by following this three-step process. First, find a lender willing to give you a bad credit personal loan – this process will be simplified if you go through a mortgage broker or use a comparison website like RateCity. Second, make sure the interest repayments on your new loan are less than the repayments on the loans being replaced. Third, instead of spending those savings, use them to repay the new loan.

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